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E-MINI S&P (Z1): Remains Below The 50-Day EMA

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Spot USD/THB consolidated above its 50-DMA yesterday and last sits +0.020 at THB32.948, with bulls setting their sights on THB33.50, which provides a key layer of resistance. Bears need a pullback under Sep 10 low of THB32.618, before taking aim at Sep 6 low of THB32.333.

  • The Thai Cabinet yesterday gave a nod to tax incentives for antigen Covid-19 test kits in a bid to promote virus containment among employees of private companies. Ministers have also agreed to an overhaul of immigration policies in a bid to attract 1mn long-stay foreigners, such as retirees, remote workers, affluent individuals and skilled talent.
  • The Bangkok Post cited an unnamed source noting that Dep PM Prawit urged fellow leaders of the ruling PPRP party to rally behind PM Prayuth. The source added that party SecGen Thamanat and Treasurer Narumon are no longer invited to weekly pre-Cabinet briefings with Prawit, after they allegedly orchestrated a failed plot to unseat PM Prayuth.